Ieq Capital LLC Invests $19.36 Million in Globe Life Inc. $GL

Key Points

• Ieq Capital acquired 108,346 Globe Life shares valued at approximately $19.36 million, giving it a 0.14% stake; institutional investors collectively own 81.61% of the company.
• Analysts maintain a favorable outlook, with Globe Life receiving a consensus “Moderate Buy” rating and an average price target of $191.67, above its reported $171.07 share price.
• Globe Life approved a $2.5 billion share-repurchase program and declared a quarterly dividend of $0.33, while quarterly revenue rose 8% year over year despite EPS slightly missing estimates.

Ieq Capital LLC acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 108,346 shares of the company's stock, valued at approximately $19,359,000. Ieq Capital LLC owned about 0.14% of Globe Life at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new position in Globe Life during the 2nd quarter worth $28,000. Hilton Head Capital Partners LLC acquired a new position in Globe Life during the 4th quarter valued at about $30,000. MUFG Securities EMEA plc purchased a new stake in Globe Life in the second quarter valued at about $31,000. Torren Management LLC purchased a new stake in Globe Life in the fourth quarter valued at about $37,000. Finally, Johnson Financial Group Inc. acquired a new stake in Globe Life in the second quarter worth about $39,000. Institutional investors and hedge funds own 81.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GL. Keefe, Bruyette & Woods dropped their price target on Globe Life from $192.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, July 24th. Piper Sandler increased their price objective on shares of Globe Life from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Morgan Stanley lifted their target price on shares of Globe Life from $181.00 to $208.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Wells Fargo & Company boosted their target price on shares of Globe Life from $172.00 to $193.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, TD Cowen upped their price target on shares of Globe Life from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $191.67.

Globe Life Stock Up 0.3%

Globe Life stock opened at $171.07 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The business's 50-day simple moving average is $178.36 and its two-hundred day simple moving average is $158.52. The company has a market cap of $13.15 billion, a PE ratio of 11.36 and a beta of 0.48. Globe Life Inc. has a fifty-two week low of $127.85 and a fifty-two week high of $191.55.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.67 by ($0.06). Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the previous year, the business earned $3.05 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities analysts anticipate that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, October 5th. Globe Life's dividend payout ratio is 8.76%.

Globe Life announced that its board has approved a stock repurchase plan on Monday, August 10th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 17.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Thomas Peter Kalmbach sold 25,650 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $178.58, for a total value of $4,580,577.00. Following the sale, the chief financial officer directly owned 50,568 shares of the company's stock, valued at $9,030,433.44. This represents a 33.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Matthew Darden sold 50,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the completion of the sale, the chief executive officer owned 58,451 shares in the company, valued at $10,663,215.93. The trade was a 46.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 151,908 shares of company stock worth $27,239,981 in the last quarter. 2.11% of the stock is currently owned by corporate insiders.

Globe Life Company Profile

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company's product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.

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